Perhaps you've heard of property tax loans but you're not familiar with the industry. Private lenders provide property tax relief in Texas based on the Tax Lien Transfer law of 1933 (and subsequent revisions to that law), which provide for regulation and added protection for property owners. Today, these specialized lenders are an invaluable resource for property owners who find they need property tax financing help. Here are some important things you should know about property tax lenders:
1. They're fellow Texans who provide a vital service to Texas property owners. These local business owners have gained a solid reputation with thousands of satisfied clients. Tax lenders create jobs and provide a valuable service in their state and communities.
2. Many lenders belong to reputable trade organizations such as the Texas Property Tax Lienholders Association and the Better Business Bureau, which shows their commitment to integrity, transparency and adherence to an ethical code of conduct.
3. Property tax lenders are trained professionals with considerable industry knowledge and experience. As licensed professionals in the lending industry, their business practices are governed by strict regulations and a Texas regulatory agency, (Office of Consumer Credit Commissioner), to ensure compliance.
4. The best lenders service their loans in house from the initial phone call and application right through to the last payment. Tax lenders with strong balance sheets don’t sell their loans to third parties, and keep their client's personal information confidential.
5. Reputable tax lenders advise about all borrowing options, answer all questions, and take the time to explain the entire loan process. A trustworthy lender explains the terms, and provides a breakdown on all costs associated with a loan. This enables a borrower to make an informed decision about whether a property tax loan is the right choice for their current financial situation.
6. Many lenders have flexible repayment plans and are willing to work with a borrower if financial difficulties arise during the term of the loan. The goal of a property tax lender is to have the borrower repay the loan, so that ownership of the property is retained and foreclosure is avoided.
7. Property tax lenders have helped more than 100,000 Texans avoid the high costs and stress of delinquency. Texas communities have benefited too, because every tax loan approved puts much-needed revenue into the hands of local governments to pay for essential services and education.
If you need the assistance of a licensed, experienced property tax lender, contact Property Tax Funding at 877-776-7391, or complete our online application.